While the Euro zone inflation hits a record 8.6% as the European Central Bank prepares for its first rate hike in 11 years, the rest of the world is also experiencing rising costs of virtually everything.
In the US, costs of necessities yet again skyrocketed in May, leaving the US with a new 40-year high in inflation. Think of gas, food, energy, rent, flight prices, and all other basic necessities. Households across the country are experiencing unprecedented pressures, making them less able to afford discretionary items like electronics or haircuts.
So it’s not simply you who can no longer feast on Starbucks lattes. We’re talking about lower-income and Black and Hispanic Americans, in particular, who are struggling beyond the point that should be humanly acceptable.
This thread also sheds light on how inflation is not only changing people’s habits, lifestyles, and daily choices, but altering their livelihoods. “What have you given up recently due to rising costs?” someone asked recently on Reddit, hitting very close to home for too many people who shared their very honest responses.
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